Trafalgar New Homes Gains Approval For Beaufort New Homes Acquisition (ALLISS)

16th Mar 2018 12:31

LONDON (Alliance News) - Property developer Trafalgar New Homes PLC said on Friday it as passed all resolutions, including for the issuing of shares going towards the acquisition of Beaufort Homes Ltd.

As a result 186.8 million shares in the company will be issued to the owners of Beaufort Homes, representing a 44% stake in the enlarged issued share capital of the new company Trafalgar Property Group PLC.

Shares in Trafalgar New Homes were untraded on Friday, last quoted at 0.840 pence.

The name change will take place later today and come into effect next Monday. In addition, the share reorganisation will also take place, with every existing ordinary share of 1.0 pence will be subdivided into one ordinary share 0.1p and one deferred share of 0.9p each.

Following these transactions, Trafalgar Property Group will have 425.2 million shares issued overall.

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